TÜRKISTAN, Kazakhstan — Azerbaijan’s Deputy Minister of Economy Rövnəq Abdullayev joined counterparts from Organization of Turkic States (OTS) member nations for their 14th Meeting of Ministers of Economy and Trade. Kazakhstan’s Deputy Minister of National Economy Assan Darbayev chaired the session, according to Azerbaijan’s Ministry of Economy.

Abdullayev pointed to strong gains in OTS multilateral cooperation over recent years. Azerbaijan keeps pushing to build economic links and boost mutual trade across the group, he said. Bilateral investment funds set up with Uzbekistan, Kyrgyzstan and Kazakhstan have sped up capital movement and funded industrial and investment projects, the deputy minister added.

Delegates tackled ways to deepen OTS economic ties. They covered trade facilitation, investment promotion, digital transformation and transport-logistics partnerships. The group focused on boosting efficiency along the Middle Corridor, a key trade route linking Asia and Europe.

The talks wrapped with signatures on a Joint Communiqué and a Memorandum of Understanding for trade cooperation among OTS states. Ministers agreed the 15th meeting will take place in Azerbaijan during the second half of 2024.

On the meeting’s sidelines, Abdullayev held talks with Türkiye’s Deputy Minister of Trade Sezai Uçarmak. The pair reviewed plans to grow Azerbaijan-Türkiye trade and investment. They stressed non-oil exports, digital trade collaboration and shared priorities.

Azerbaijan’s involvement highlights its active role in Turkic economic integration. The bilateral funds have already channeled resources into joint ventures. Officials expect the new Turkic Investment Fund to ramp up those efforts once fully operational.

Middle Corridor improvements aim to cut transit times and costs. OTS members see it as vital for handling rising trade volumes. Digital transformation talks highlighted e-commerce and data-sharing platforms to ease cross-border business.

Azerbaijan hosting the next summit signals trust in its leadership. Officials from the Ministry of Economy said preparations will start soon. The event promises deeper discussions on investment funds and trade barriers.

OTS brings together Azerbaijan, Kazakhstan, Kyrgyzstan, Türkiye, Uzbekistan and observer states. Economic cooperation has accelerated since the group’s expansion. Trade volumes among members grew steadily, with non-oil sectors showing sharp increases.

Abdullayev’s remarks aligned with Azerbaijan’s push for diversification beyond energy. Non-oil exports to OTS partners rose in recent quarters, ministry data shows. Digital trade initiatives could open new markets for tech and services.

The signed documents set concrete steps for trade facilitation. They include customs harmonization and joint investment promotion. Logistics partnerships target bottlenecks in the Middle Corridor rail and road networks.